Member Assistance

At Memphis City Employees Credit Union, we understand the uncertainty a federal government shutdown can bring, especially when it affects your paycheck. If your income has been paused or reduced, please know that you are not alone. 

Your credit union is here to support you during this time with financial relief options, personalized guidance, and the caring service you deserve. Whether it’s helping you manage day-to-day expenses or providing solutions to ease the burden, MCECU is committed to standing by you. 

Available Services 

Loan Payment Assistance 

To help members affected by the government shutdown, MCECU is offering a payment deferment option. This would allow you to defer two monthly payments on any eligible MCECU loans. 

Visit a branch or contact us Toll-Free at 1-877-825-3180 or 901-321-1200 to learn more or speak with an MCECU representative. 

Mortgage and Home Equity – please call our mortgage department directly at 901-321-1200 option 3, then option 2, for potential deferments to extend a maturity date.  

*Assistance will be available to all MCECU members who are federal employees and have proof of a loss of pay resulting in a missed payroll.  

Shutdown Deferment Option  

Now you can defer a loan payment without impacting your credit rating. A deferment allows you to defer two monthly payments on any eligible Memphis City Employees Credit Union loan. By deferring a loan payment, the loan term will be extended, and interest will continue to accrue. As a result, the final loan payment may be different due to the deferred payments. All other terms and conditions of the loan will remain the same, and regular payments will resume the following month or billing cycle immediately following the deferred payment. 

How Deferred Payments Work  

Complete the Deferred Payment request by calling into our member service center (901-321-1200) or in one of our convenient branch locations. (Mortgage requests must call 901-321-1200 option 3, then option 2, for potential deferments to extend a maturity date.)  

If the deferred loan payment is scheduled for automatic transfer, MCECU will advance the next scheduled automatic transfer date for the loan payment. The deferred request can only be used for the specific loans requested, and only two months of payments may be deferred. Loan payments can be deferred for loans paid by external ACH transfer or bill payment, but MCECU is not responsible if the external ACH transfer or bill payment is not canceled in a timely manner, and the loan payment is processed. 

What Loans Are or Are Not Eligible for Deferment

The types of loans eligible for deferral include signature, vehicle, and recreational vehicle loans.